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Housing Market Adjusts to Mortgage Stress Test
BCREA 2019 First Quarter Housing Forecast Update The British Columbia Real Estate Association (BCREA) released its 2019 First Quarter Housing Forecast Update today. Multiple Listing Service® (MLS®) residential sales in the province are forecast to increase 2 per cent to 80,000 units this year, after recording 78,345 residential sales in 2018. MLS® ...
Continue ReadingCLI Points to Flattening Commercial Activity in 2019
The BCREA Commercial Leading Indicator (CLI) declined by 1.8 points to 134.5 from the third to the fourth quarter of 2018. Compared to this time one year ago, the index is about 1 percent lower. “Following several years of robust growth, the BC economy slowed in 2018 and the CLI is ...
Continue ReadingBank of Canada Interest Rate Announcement
The Bank of Canada raised its target for the overnight rate by 25 basis points to 1.75 percent this morning. In the statement accompanying the decision, the Bank noted that the Canadian economy is expected to average growth of 2 percent over the second half of 2018 before slowing to ...
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